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Branding & Marketing Series for Restaurants Episode 9 [Video]

Branding & Marketing Series for Restaurants Episode 9

Market segmentation analysis is basically the process of grouping customers into segments who share similar needs. It can be done in basically two approaches – either through common sense segmentation or data driven segmentation. One leans more towards being intuitive and another leaning towards customer survey and analytics.
The step-by-step process of MS analysis goes like this:
First step is to decide what not to segment. We might think like our restaurant is for everyone and that might even be the case. However, let me give you an example. If your restaurant is a family theme restaurant and the food is prepared accordingly, the seating is arranged accordingly, the music and the ambience is set accordingly. If in this restaurant, youngsters and college students start to hang out more, the whole restaurant will fall apart.
This could mean two things. Either the area that the restaurant is opened has a lot of foot traffic from students which means there are colleges and universities nearby. Or, maybe the restaurant attracts more younger people as opposed to the customers we are targeting.
Second step is to sketch your ideal segment. Whom do you want to target? Make a detailed customer profile which describes their age, gender, hobbies, income level, preferences and so on. The more precise it is, the easier it is to find those types of customers for the restaurant. Once you have an idea on whom to target, you should start collecting data.
You can either hire a sales team to gather information around the locality or do it yourself. Prepare a questionnaire which contains questions which ends in Yes/No answer or rating from 1 to 5 scale. Have specific questions which will help you to understand the customers and their preferences.
Then you start to go through that data and see whether there is a market for your target audience. For example: If you have a question on whether they prefer family restaurants over other restaurants, and the majority answered No. You might have to avoid opening a family theme restaurant as there isn’t much market for it. You can also decide to go against the data and open a family style restaurant that challenges the traditional notion.
Moving on, we now have our hypothesis on what we want and also what the customers want. We will try to overlap the common theme and then work for the remaining ones. Suppose your target audience is office workers and a lot of office workers actually love the idea of having a restaurant which caters to them, this is a plus sign. You have just proven your hypothesis and now you can focus on other aspects such as lighting and seating and so on.
Once you have selected the target segment, we start developing a marketing mix for that target segment. Marketing mix, commonly known as 4P’s, focuses around price, place, promotion and product. Having a target segment will make it easier to build upon these marketing mixes. For example: Knowing that our target market is office workers and business people, we can increase the prices of the food since they are willing to pay more than the average consumers. We can open restaurants near offices and corporations to increase foot traffic. We can promote our restaurants by introducing special offers and packages for office people. We can sell healthy food items knowing that office people need to work longer hours and need carbs.

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How To Use QuickBooks | Simple Online Accounting Software (QuickBooks Tutorial) [Video]

Today, I dive into a Quickbooks tutorial for beginners and share with you how to use Quickbooks online to better manage your accounting and financial activities. This walkthrough is from the perspective of a small business owner and not an accountant.Get started with Quickbooks here: https://quickbooks.com/Today we cover the following chapters in this Quickbooks tutorial:0:00 Intro01:17 Getting started02:49 Sign up (free 30-day trial)03:21 Dashboard06:31 Account settings09:43 Banking11:23 Sales13:06 Cash flow13:32 Expenses13:52 Employees14:00 Reports14:44 Taxes14:53 Accounting15:40 Apps16:57 Outro Are you interested in joining our small business community?Join us to receive actionable tips, tutorials and tools to grow your small business online (Subscribe to our email list) or join our exclusive community here: https://mailchi.mp/71ac3fcdbfdf/stewart-gauldLet me know if you found this Quickbooks tutorial helpful. Also, if you require any help or support, make sure to get in touch with us today.Thanks for watching and enjoy!#quickbooks #smallbusiness

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In this Monday tutorial, I share how you can get started with project management as well as CRM activities through Monday’s all in one productivity platform.Monday is now a leading all in one project management and CRM software due to Monday’s simplicity and visually pleasing user interface. This powerful platform now offers a generous free plan for up to 2 seats, allowing freelancers and small businesses the opportunity to get started with project management and CRM activities for free. Get started with Monday here: https://mondaycom.grsm.io/stewartgauld3125*(This link is an affiliate links, which means we will get a commission if you upgrade to a paid plan through this link, this helps support our channel and we thank you in advance!) Here is the Monday CRM tutorials for beginners we mentioned in this video:https://youtu.be/8ZFrjcl668Y Today we cover the following chapters in this Monday tutorial:0:00 Intro01:20 Getting started01:54 Pricing03:34 Monday Dashboard03:56 Workspaces04:50 Create folders05:51 Create a board07:44 Create groups09:00 Add items (tasks)09:44 Columns11:59 Add sub-items12:23 Project views13:10 Automate14:44 CRM Capabilities18:17 Outro Are you interested in joining our small business community?Join us to receive actionable tips, tutorials and tools to grow your small business online (Subscribe to our email list) or join our exclusive community here: https://mailchi.mp/71ac3fcdbfdf/stewart-gauldLet me know if you found this Monday tutorial helpful. Also, if you require any help or support, make sure to get in touch with us today.Thanks for watching and enjoy!#monday #crm #projectmanagement